Allowing employees to engage with consumers through consumer-grade messaging apps is a significant risk enabler in many firms today. Though many businesses were skeptical of new messaging systems at first, the 2020 coronavirus pandemic forced many to use them in order to quickly adjust to the shift brought about by the remote work structure; mobile messaging provided several benefits to businesses, including increased communication and cooperation with workers, which resulted in an improved response.
It is believed that about half of today’s workforce is mobile as a consequence of changing consumer expectations, which are primarily focused on response time, delivery, and the like. With more organizations eschewing office space, the many benefits of mobile communication become clear. Monitoring business-related mobile actions have become a rising concern as more employees use their smartphones as part of their remote work arrangement, forcing the deployment of SFC recording and text message SFC archiving.
According to the SFC circular, licensed enterprises are increasingly employing the services of external electronic data storage providers. In addition, according to the Securities and Futures Ordinance and the SFC’s Anti-Money Laundering and Counter-Terrorist Financing Ordinance, enterprises must take several procedures to guarantee the preservation and integrity of the records or documents needed to be kept.
The SFC defines electronic data service providers as enterprises that offer public and private cloud services or devices for data storage in traditional data centers and technological services that produce information during service usage and may be accessed afterward. A big concern is that this may bring third-party service providers into the picture, who may also keep firm data in their cloud or the cloud of their service provider. Compliance with the new criterion may be challenging if the retained data is not replicated within records.
Below is an infographic from TeleMessage discussing how to confidently allow mobile messaging in your regulated firm.